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PACS Group PACS Non-California — Coverage floor

Other geography segments

All States, Excluding Colorado, Kansas, and Pennsylvania
$3M+300%
Colorado, Kansas and Pennsylvania
$3M+300%
California and Nevada
$500K+300%

Similar metrics at other companies

Lemonade logo
LMNDCalifornia — Amount
$73.7M+22.0%
Prudential Financial logo
PRULong- Term Care — Flooring impact, EOP
$0
MetLife logo
METAccident & health insurance — Cumulative impact of flooring the future policyholder benefits reserve
$182M+264%
Tenet Healthcare logo
THCOther Geographic Areas — Insurance, annual limit
$50M0.0%
Ameriprise Financial logo
AMPLong Term Care Insurance — Adjustment due to reserve flooring
$0
Cincinnati Financial logo
CINFTerm Life Insurance — Impact of flooring at cohort level
$16M-20.0%

Other financials

Income statement

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Revenue$1.4B+11.2%
Gross profit$346.0M+36.5%
Operating income$120.0M+149%
Net income$80.7M+183%
EPS (diluted)$0.50+194%

Balance sheet

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Cash & equivalents$273.7M-5.8%
Total debt$3.5B-3.2%
Total equity$1.0B+38.2%
Total assets$5.7B+3.1%

Cash flow

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Operating cash flow$236.3M+57.3%
CapEx$21.8M+23.2%
Free cash flow$214.5M+61.9%

Valuation

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Market cap$5.91B+189%

Profitability

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Gross margin23%+3.7pp
Operating margin7%+4.6pp
Net margin4.5%+3.4pp
FCF margin7.7%

Returns & leverage

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Return on equity27.3%+15.8pp
Debt / equity3.3×-1.4×
Current ratio0.0×

Where this comes from

Reported directly by PACS Group in its filing.

Tagged under the XBRL concept us-gaap:MalpracticeInsuranceCoverageFloor.

The official record: PACS Group’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PACS Group's non-california — coverage floor?
PACS Group (PACS) reported non-california — coverage floor of $750K in Q1 2026.
How has PACS Group's non-california — coverage floor changed year-over-year?
PACS Group's non-california — coverage floor increased by 300.0% year-over-year, from $187.5K to $750K.
What does non-california — coverage floor mean?
This represents the minimum threshold of insurance protection or financial indemnity established for healthcare facilities operating outside of the California market. It serves as a baseline for risk mitigation, ensuring that the organization maintains a specific level of coverage for potential liabilities or operational disruptions. Monitoring this floor helps investors understand the company's risk appetite and the adequacy of its insurance strategy in diverse regulatory environments.